Performance Car Insurance

If you are thinking of buying a high performance car then you should prepare yourself for an increase in the price of your car insurance. With that in mind it is essential to shop around and compare as many quotes as possible to keep costs down.

This is because high performance vehicles have a greater rate of acceleration and a higher top speed than standard cars and are also often modified either mechanically of cosmetically. All of these factors mean that high performance cars are often in one of the higher insurance groups and so will cost more to insure.

Another reason that high performance cars are more expensive to insure is because insurers argue that some modifications, such as lowered suspension, can have an adverse affect upon handling. In addition, high performance cars are statistically more likely to be involved in accidents and generally cost more to repair due to their higher priced parts.

When looking to insure a high performance car it is important to note that there is a difference between 'sports' high performance cars and 'modified' high performance cars, which often cost more to insure.

It is also worth noting that a car can be classified as high performance if it has been kit built or modified, is a prestige or imported model or it simply has a powerful engine.

Top tips for cheaper high performance car insurance

You may be able to make a saving on your car insurance by comparing similar models and makes of car and finding one that is in a lower insurance group. In addition, by doing some research before you buy you can ascertain whether or not parts will be hard to come by (this can be a problem for imported models) and if repairs are likely to be expensive and time-consuming as these are all factors that can push up the price of an performance car insurance premium.

As high performance vehicles are perceived as being more difficult to handle due to their increased speed and acceleration, it may be worth taking an advanced driving course such as those offered by the Institute of Advanced Motorists.

High performance vehicles are notoriously attractive to thieves so it's important to ensure that your car is equipped with the highest level of security equipment possible and, preferably, kept it in a locked garage overnight. It is also worth considering fitting an insurer-approved tracking device to you car as this can have a positive affect on the price of your policy.

Try to arrange your insurance through a specialist insurer who has knowledge of the type of vehicle you are insuring and suitable claims experience.

In addition, if you can avoid using your high performance car on a daily basis, then you may be able to bring down the price of your policy by reducing the number of miles you cover.